Bitcoin’s weakness leads to top calls. But one analyst says if $125,000 was the peak, the $107,000 support would have collapsed months ago.
Bitcoin started November with fresh weakness as it fell to $107,000, while the market remained tense about deeper downside tests. With the market yet to show any real strength, a growing number of traders now believe that $125,000 marked the official cycle top.
But crypto analyst Wall Street is now directly pushing back against the popular narrative. He argues exactly the opposite, explaining that current price behavior proves that this level is nowhere near the appropriate cycle exhaustion ceiling.
120 days sideways
His core evidence is that Bitcoin has now moved sideways for 120 days between the Value Area High at $120,000-$123,000 and the Value Area Low at $107,000-$110,000, without any breakdown below support and zero confirmed reversals at resistance. According to him, if $125,000 were truly the top, the price would not remain strong at the bottom of the range for the next four months as retail panics.
Instead, the analyst points Out that even after retail sold around 365,000 BTC in this sideways range, about 3,150 BTC per day, the price still refused to fall below $107,000-$110,000, which he says is the clearest sign that large institutional buyers are absorbing every coin dumped by small players.
Mr. Wall Street says that if this had been a real top, a collapse would have already occurred, especially given the amount of supply that has been washed away. Since the lower limit refuses to break, he believes that this is not a division into a peak, but an accumulation before the next stage higher. He also highlights that there is a visible imbalance on the upside, pointing back to a move towards $120,000-$123,000.
He remains personally long from an average entry of $107,750 and said there is nothing in the structure to suggest closing those longs is necessary or logical.
Macro bears push back
Not everyone is optimistic about Bitcoin’s trajectory. Another prominent analyst ‘Doctor Profit’ said that Bitcoin is not positioned for another immediate higher level. According to him, the end of quantitative tightening was only announced on December 1, 2025; it hasn’t started yet, and until that date arrives, the Fed is still removing liquidity from the system. That’s bearish for risky assets, including Bitcoin.
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He also corrected claims that the Fed “printed” $50 billion last week, while noting that this was simply a temporary repo loan and not new money creation. For Bitcoin, he says this detail matters because crypto assets only really rise when real liquidity enters the system. Currently the opposite is happening. As liquidity is drained, repo stress arises and banks pay more to borrow dollars. He believes this is a classic end-QT tightening, the same phase that preceded the 2019 repo crisis and the 2020 crash.
As a result, Doctor Profit says traders who expect Bitcoin to rise quickly are making the wrong assumption.
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